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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO SECTION 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Month Ended Commission file number
September 30, 2000 0-14884
Exact name of the registrant as specified in its charter
SAND TECHNOLOGY INC.
(formerly Sand Technology Systems International Inc.)
Jurisdiction of Incorporation
CANADA
Address of principal executive offices:
4141 SHERBROOKE STREET WEST, SUITE 410
WESTMOUNT, QUEBEC, CANADA H3Z 1B8
TELEPHONE (514) 939-3477
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F ______
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _____ No X
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If "Yes" is marked, indicated below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- N/A.
Total number of pages is 5.
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[LOGO] PRESS CONTACTS:
de Jong & Associates,
Tel: (760) 943-9065, [email protected]
PRESS RELEASE
SAND REPORTS ANNUAL REVENUES UP BY 300%
NUCLEUS QUARTERLY SALES TOP $3M FOR FIRST TIME EVER!
MONTREAL, CANADA, SEPTEMBER 14, 2000: Sand Technology Inc. (Nasdaq: SNDT) today
announced year-end results that highlight 4th quarter sales higher than total
annual sales for each of the two previous years.
Arthur Ritchie, President and CEO of Sand, said "This year marks a real
milestone in the market acceptance of our Nucleus products. Sand more than
tripled its sales revenues over those of last year and finished with very strong
4th quarter results."
"We are thrilled with the excellent feedback we are receiving from our existing
customers and their identification of new applications for Nucleus. Moreover, we
have acquired over ten new customers in the last six months, with average
billings per customer exceeding $350,000. We are for the first time able to go
both wide and deep as we enter the next phase of our product rollout."
"The results of the past financial year confirm our marketing strategy of
getting our Nucleus product suite adopted by a wide range of organizations. Our
sales approach in North America and Europe has been restructured and
demonstrates the commitment of Sand to its customers and partners. Sand is
augmenting every Nucleus software implementation with Sand consulting services,
thus providing an enhanced revenue stream, quick and effective adoption of the
Nucleus product, and total customer satisfaction."
For the year ended July 31, 2000, the company posted a loss of $2,866,907 or
$0.321 per share on sales of $6,895,016 as compared to a net loss of $4,960,964
or $0.582 per share on sales of $2,091,067 for the fiscal year ended July 31,
1999. 4th quarter results showed sales of $3,061,705 with an attendant loss of
$272,874. These improved results are gratifying and reflect the ongoing
evolution of Sand into an enterprise which designs, develops, markets and
supports software products, and in particular its Nucleus Exploration product
suite.
The Company is very excited about the prospects for Fiscal 2001. According to
Mr. Ritchie, "the growth in the implementations of Nucleus are starting to
produce significantly larger revenues, as customers who have experienced our
"Proof of Value" program to quickly realize immediate benefits and begin to move
to larger Nucleus deployments. Meanwhile, we continue to increase the number of
companies that are embracing Nucleus as a critical element of their short-term
Business Intelligence strategies. Perhaps even more relevant is the fact that
our customers have discovered specific uses for Nucleus within vertical markets
like healthcare, banking, brokerage and direct marketing that take specific
advantage of Nucleus' unique product capabilities. These initial implementations
have proven not to be customer-specific. They are very repeatable throughout
many companies across many vertical markets. This repeatability bodes very well
for continuous rapid Nucleus market penetration, and attendant revenues and
profits in the immediate future."
ABOUT SAND TECHNOLOGY
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Sand Technology, with headquarters in Montreal, Canada and offices in the United
Kingdom and the United States, provides performance, scalable software solutions
for data mining, data marts, data warehouses and online analytical processing
(OLAP). Sand's Nucleus product suite brings patented technology to the business
user, empowering more timely and accurate decision making. Nucleus is being used
in the Retail, Finance, Healthcare, Transportation, Telecommunication,
Manufacturing, Government and Insurance sectors to support strategic corporate
initiatives including: e-Business; CRM (Customer Relationship Management);
SAP(TM) reporting; SCM (Supply Chain Management); risk analysis and management;
new business; product trend and profitability analysis; fraud detection;
emerging markets; competitive analysis, and quality control. Sand Technology has
commercial relationships with IBM, Oracle, Compaq Computer Corporation,
Microsoft, Brio Technology, Information Builders, and Wyle Systems. For more
information, visit www.sandtechnology.com
All Rights Reserved. Nucleus, Nucleus Server, N: VECTOR and MPSO are registered
trademarks of Sand Technology Inc. and Nucleus Exploration Mart, Nucleus
Exploration Warehouse, Nucleus Virtual Database (VDB), NUCLEUS POWERED! and
Nucleus E! are trademarks of Sand Technology Inc. Other trademarks are the
property of their respective owners.
Forward looking statements made in this release are based on reasonable
assumptions. However, some assumptions may not materialize and unanticipated
events may occur which could cause actual results to differ materially from
those forecasted. Competitive pressures, availability and cost competitiveness
of supplies or competing products, timing of significant orders, market
acceptance of the Sand Nucleus Product Suite and other risks and uncertainties
described in Sand's reports to Securities and Exchange Commission are important
factors which could cause actual results to differ materially from those
projected.
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SAND TECHNOLOGY INC.
CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE YEARS ENDED JULY 31, 2000 AND 1999
IN CANADIAN DOLLARS
<TABLE>
<CAPTION>
FOR THE YEARS ENDED JULY 31
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2000 1999
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<S> <C> <C>
Net Sales $ 6,895,016 $ 2,091,067
Research and Development Costs $(3,790,025) $(3,871,534)
Selling, general and administrative expenses $(7,836,833) $(4,458,200)
Cost of Sales and Support $(2,343,191) $(2,091,067)
(Loss) earnings from operations $(6,990,465) $(6,147,819)
(Loss) earnings before income tax $(2,866,907) $(4,960,964)
Income taxes -- --
Net (loss) earnings $(2,866,907) $(4,960,964)
(Loss) earnings per share $ (0.321) $ (0.582)
Weighted average number of shares outstanding 8,919,211 8,522,873
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SAND TECHNOLOGY INC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SAND TECHNOLOGY INC.
/s/ Arthur G. Ritchie
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September 15, 2000 Arthur G. Ritchie
Chairman of the Board, President
and Chief Executive Officer
